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Condensed Interim Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current    
Cash and cash equivalents $ 5,371,608 $ 5,710,227
Term deposits 1,025,347 1,025,347
Accounts receivable (Note 4) 9,943,148 7,129,329
Inventories (Note 5) 12,214,651 9,502,005
Prepaid expenses 859,922 442,161
Total current assets 29,414,676 23,809,069
Property, equipment and leaseholds, net (Note 6) 4,920,019 4,931,713
Patents (Note 7) 9,589 13,699
Right of use assets (Note 3) 203,721 217,267
Intangible assets (Note 8) 2,560,000 2,600,000
Long term deposits (Note 9) 8,540 8,540
Investments (Note 10) 5,453,274 5,424,010
Goodwill (Note 8) 2,534,275 2,534,275
Deferred tax asset 12,697 12,697
Total Assets 45,116,791 39,551,270
Current    
Accounts payable 1,362,779 1,283,486
Accrued liabilities 1,318,503 457,062
Deferred revenue 271,426 349,004
Income taxes payable 5,273,842 4,561,396
Short term line of credit (Note 11) 4,948,545 2,300,819
Current portion of lease liability (Note 3) 57,045 77,715
Current portion of long term debt (Note 12) 665,614 793,574
Total current liabilities 13,897,754 9,823,056
Lease liability (Note 3) 146,676 139,552
Deferred income tax liability 310,162 310,162
Long term debt (Note 12) 1,491,355 1,573,024
Total Liabilities 15,845,947 11,845,794
Stockholders’ Equity    
Capital stock (Note 14) Authorized: 50,000,000 common shares with a par value of $0.001 each; 1,000,000 preferred shares with a par value of $0.01 each Issued and outstanding: 12,377,746 (December 31, 2021: 12,355,246) common shares 12,378 12,355
Capital in excess of par value 17,094,836 16,983,648
Other comprehensive loss (733,187) (775,730)
Accumulated earnings 10,415,419 8,882,360
Total stockholders’ equity – controlling interest 26,789,446 25,102,633
Non-controlling interests (Note 15) 2,481,398 2,602,843
Total Stockholders’ Equity 29,270,844 27,705,476
Total Liabilities and Stockholders’ Equity $ 45,116,791 $ 39,551,270